ASCOT, ENGLAND // Frankie Dettori is searching for his fifth victory in the King George VI and Queen Elizabeth Stakes today, and Godolphin's first jockey is adamant that the 60-year-old Group 1 contest has lost none of its lustre.
Detractors have been queuing up to take a dig at Ascot's premier middle-distance test, with several publications pointing out that the French races of the Grand Prix de Paris, run nine days ago, and the Prix de l'Arc de Triomphe at Longchamp in the autumn have taken the gloss away.
Only five horses have made the line-up at Ascot today, headed by Workforce, owned by Prince Khalid Abdullah of Saudi Arabia; St Nicholas Abbey, who hails from Aidan O'Brien's Ballydoyle yard; Dettori's mount Rewilding, a colt who is quickly assuming the mantle of Godolphin's standard-bearer; Rewilding's stablemate, Debussy; and Nathaniel, the only three-year-old in the line-up.
"It is a great race and is one of the biggest races of the summer," Dettori said.
"We have last year's Derby favourite in St Nicholas Abbey, and Workforce has won two of the biggest races around in the Derby and the Arc. We're not too badly off with Rewilding, who has won the Dubai Sheema Classic and Prince Of Wales's Stakes. It's a great contest."
Rewilding staged the shock victory of the summer at Royal Ascot in winning the Prince Of Wales's Stakes over So You Think. Dettori was quick to point out that O'Brien's Australian import went on to beat Workforce in the Eclipse earlier this month.
According to Timeform, the respected English ratings service, both horses clocked the best performances among thoroughbreds in the world over middle distances this year. The organisation also rates the King George a better race than the Arc over the past decade.
Today's clash, therefore, must surely crown the best colt on the planet over 2,400m.
Dettori last won the King George in 2004, when Doyen held off the challenge of the American raider Hard Buck. The Italian is in the form of his life at the age of 41. Last weekend, his ride on Blue Bunting, when winning the Irish 1,000 Guineas, was inspired. His performance went some way to erasing the memory of dropping his hands on the filly when the pair trailed in fourth in the English equivalent at Epsom.
Despite widespread criticism there was one man who took defeat on the chin, the owner, Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.
"Of course, he is very competitive, but of all the people I know in racing he is the best loser I have ever met; he knows how to deal with it," Dettori said. "We don't see him as much as we used to, because his responsibilities are huge, but he is just as intensely involved with the training and still knows every result and what the horses are doing. At heart, he is a man who really loves his horses, and 17 years on I'm still with him."
With such a prize on offer, Dettori probably cannot afford a similar mistake today.
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Scores in brief:
Boost Defenders 205-5 in 20 overs
(Colin Ingram 84 not out, Cameron Delport 36, William Somerville 2-28)
bt Auckland Aces 170 for 5 in 20 overs
(Rob O’Donnell 67 not out, Kyle Abbott 3-21).
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Avatar: Fire and Ash
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Lexus LX700h specs
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Fuel consumption: 11.7L/100km
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FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
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Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
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26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore
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Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
GAC GS8 Specs
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Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
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Fuel consumption: 9.1L/100km
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Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope
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